An Empirical Analysis of the Function of STP to the Economic Growth in Construction Industry Based on TFP Theory - A Case Study of Anhui Province

Abstract

In this paper the contribution of scientific and technological progress (STP) in economic growth in Anhui province’s construction industry from year 1999 to year 2009 was analyzed by total factor productivity (TFP) method, and the role of TFP in the transformation of economic growth pattern in Anhui province’s construction industry and in corporations’ efforts to enhance industrial competitiveness was analyzed. It found that the key influencing factors in Anhui province’s construction industry’s economic development were capital input and labor input which its growth was driven by resource elements aggregation and its TFP played a poor role. To enhance TFP will be the only way to constructing industry’s sustainable development and to effectively increasing construction industry companies’ core industrial competitiveness.